The Augmented Reality Revolution in Ecommerce
The way we shop is undergoing a shift. Research shows that the potential of AR is quickly being taken up by online retailers, and customers are increasingly ready to try it. Present AR trends encompass virtual “showrooms” for product try-ons, the use of AR mirrors in retail spaces, visual searches powered by AR, and in-store AR sales finders. The results of these trends show that AR isn’t just a buzzword: the technology is reshaping the ecommerce sector. Here are ten facts to prove it.
The Shopify Evidence: Data from Shopify, the leading ecommerce platform with nearly 2 million merchants, showed a staggering 94% higher conversion rate on AR-enabled product pages than those without AR.
Consumer Demand for AR: In a survey of shoppers, an impressive 71% voiced that they’d shop more frequently if they could visualise products through AR. 55% admitted that shopping with AR makes the experience more fun and exciting.
Website Engagement with 3D/AR: Two-thirds of online shoppers (66%) have shown a heightened interest in websites that offer 3D or AR shopping experiences. For many, shopping is about the experience as well as the transaction.
Willingness to Pay More: AR enhance the shopping experience and influences spending. Shoppers have shown a willingness to pay a 20% premium for products they can visualise in AR. Plus, AR-enabled product pages have witnessed a doubling in average order value.
Enhanced Shopping Experience: A whopping 63% of buyers believe that AR elevates their shopping experience, and 80% emphasise that the buying experience is as crucial as the product itself.
Visualising Product Variations: 77% of consumers favour AR for visualising product variations, such as colour and style differences. Since humans process visual information exponentially faster than text or audio, the preference is understandable.
Brand Loyalty through AR: Brands that weave AR into their shopping experience are likely to see a surge in customer loyalty. Research from Snap reveals that 64% of brands say AR improves loyalty and customer experience, 82% say it helps to drive sales, acquire new customers and drive performance metrics, while 88% believe it improves engagement and appeal to young audiences.
The Missed AR Opportunity: Despite its evident advantages, 51% of consumers feel that retailers aren’t fully harnessing the power of AR. While many marketing leaders acknowledge AR’s potential, a significant number haven’t yet adopted it and 52% of retailers have said they are not ready to integrate AR into their shopping experiences.
AR vs. Video Content: Of the users who have engaged with AR, 78% prefer it over video content. The content landscape is evolving, with 3D and AR content gaining precedence over traditional video.
The Future of AR in Retail: By 2025, AR product visualisation is projected to influence retail sales worth $58 billion. As ecommerce is set to represent nearly a quarter of retail sales in the near future, consumers will be on the lookout for brands that offer cutting-edge tools.
The integration of AR in ecommerce is clearly not a fleeting trend. As brands and retailers adapt and increasingly take up immersive technology, consumers will benefit from more personalised, engaging and satisfying shopping experiences. Investing in AR today will put retailers ahead of their peers in the ecommerce space.